Aspire Growth Partners LLC Buys New Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Aspire Growth Partners LLC purchased a new stake in Air Products and Chemicals, Inc. (NYSE:APD) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 2,405 shares of the basic materials company’s stock, valued at approximately $697,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Generali Investments Management Co LLC acquired a new position in Air Products and Chemicals in the 4th quarter worth $26,000. Raleigh Capital Management Inc. boosted its holdings in Air Products and Chemicals by 69.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 43 shares during the last quarter. Sierra Ocean LLC acquired a new stake in Air Products and Chemicals during the 4th quarter valued at approximately $30,000. Financial Life Planners purchased a new stake in Air Products and Chemicals during the 4th quarter worth approximately $31,000. Finally, WR Wealth Planners LLC raised its position in shares of Air Products and Chemicals by 40.3% in the 4th quarter. WR Wealth Planners LLC now owns 108 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 31 shares in the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Air Products and Chemicals

In related news, VP Sean D. Major sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $315.46, for a total transaction of $1,419,570.00. Following the transaction, the vice president now owns 14,273 shares in the company, valued at $4,502,560.58. This trade represents a 23.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Walter L. Nelson sold 589 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $308.50, for a total value of $181,706.50. Following the sale, the vice president now directly owns 719 shares in the company, valued at approximately $221,811.50. The trade was a 45.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,500 shares of company stock worth $4,842,604 over the last ninety days. 0.41% of the stock is currently owned by corporate insiders.

Air Products and Chemicals Price Performance

NYSE APD opened at $277.54 on Friday. Air Products and Chemicals, Inc. has a 52 week low of $243.69 and a 52 week high of $341.14. The company has a current ratio of 1.11, a quick ratio of 0.96 and a debt-to-equity ratio of 0.71. The stock has a market cap of $61.75 billion, a price-to-earnings ratio of 16.12, a price-to-earnings-growth ratio of 3.07 and a beta of 0.89. The company has a 50-day moving average price of $283.60 and a two-hundred day moving average price of $303.77.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings data on Thursday, May 1st. The basic materials company reported $2.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.83 by ($0.14). Air Products and Chemicals had a return on equity of 15.78% and a net margin of 31.88%. The business had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same quarter in the prior year, the firm posted $2.85 earnings per share. The business’s quarterly revenue was down .5% on a year-over-year basis. Analysts forecast that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on APD. UBS Group decreased their price target on shares of Air Products and Chemicals from $335.00 to $324.00 and set a “buy” rating for the company in a research report on Friday. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $320.00 target price (down previously from $345.00) on shares of Air Products and Chemicals in a research report on Friday, February 7th. Sanford C. Bernstein raised shares of Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 price target on the stock in a research report on Friday, January 31st. BMO Capital Markets cut Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a research note on Friday, February 7th. Finally, Bank of America downgraded Air Products and Chemicals from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $330.00 to $282.00 in a report on Tuesday, April 15th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $330.38.

About Air Products and Chemicals

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and related services in the Americas, Asia, Europe, the Middle East, India, and internationally. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, and syngas; and specialty gases for customers in various industries, including refining, chemical, manufacturing, electronics, energy production, medical, food, and metals.